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What is the best way to offer a digital course - one off or subscription?

by Imamarketer2
15 replies
Hi.

I have a course consisting of several MP3 audios and some PDF worksheets. It's a fairly lengthy course.

I am considering options for how to deliver the course. I'm wondering whether it would be better to offer the course as a simple, digital download or if it's better to offer it more like a subscription where people receive a portion of it each week or month.

My market is older - 55+ with many over 60 - and I thought it might be easier for them to get the course as a simple download rather than having to log in somewhere to use it.

But, I'm also concerned about the up-front (before they pay) perceived value of the course. The current price of the course is $500. Would the perceived value be higher if the course were dripped over several weeks so it's more like going to school, or does it make no difference?

Also, I plan to offer a payment plan for the course, so if I offer it as a digital download they'd get the course with their first payment, and I would need to trust that they would finish paying it off, where as if they only get so much from the course per month and they don't make a payment, they wouldn't receive that month's material.

I'd love to hear your thoughts, warriors!
#digital #offer #subscription
  • Profile picture of the author Brent Stangel
    The easy answer is: test both.
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    • Profile picture of the author Sid Hale
      Originally Posted by Brent Stangel View Post

      The easy answer is: test both.
      In fact... the easiest answer is to actually offer (rather than test) both a one off payment and a subscription.

      In either case, you can drip-feed the content via a membership site, and the frequency of content release could be exactly the same for either option.

      Your subscription should be a fixed-term subscription (i.e. an installment purchase) with the number of payments keyed to the number of months of drip-fed material.

      By providing the course material within a drip-fed membership, customers opting for the installment purchase can be blocked from the site if they cancel the subscription. Anyone completing all payments (installment or one off payment) can be granted "lifetime" access.

      For the convenience of making installment payments, the customer should be willing to pay a premium (i.e. total installments = 10 -15% more than one off purchase price) so you might offer a one-off price of $500 or 4 installments of $150 (for total of $600).
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      • Profile picture of the author Imamarketer2
        Sid - Thank you! That's a very helpful response and a great idea (drip fed for installments and lifetime access for one-off payments). I'm going to give that a try.
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        • Profile picture of the author Steve B
          There will be some people (maybe most?) that will be turned off by recurring payments for a $500 product.

          If your prospects are 55+, many will be retired, some on a fixed income. Older people often don't want to mess with technology like having to download things, understanding how to access memberships, keeping track of user names and passwords, etc.

          IMO, your product is quite high-end for most seniors . . . you'd better be sure you have chosen a money niche where seniors are not adverse to making large purchases.

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          • Profile picture of the author loedown
            Originally Posted by Steve B View Post

            There will be some people (maybe most?) that will be turned off by recurring payments for a $500 product.

            If your prospects are 55+, many will be retired, some on a fixed income. Older people often don't want to mess with technology like having to download things, understanding how to access memberships, keeping track of user names and passwords, etc.

            IMO, your product is quite high-end for most seniors . . . you'd better be sure you have chosen a money niche where seniors are not adverse to making large purchases.

            Steve

            I agree, $500 is a lot for that age group.

            But I do like your idea of splitting it up over a couple of payments to make it feel like class.

            Any reason you're charging so dang much for it?
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            • Profile picture of the author Imamarketer2
              Hi everyone.

              Thanks for your responses.

              lowedown - I'm charging what my course is worth. It's a business course, and a rather long one.

              Steve B - That's probably true for a lot of older people - except the ones in my market. I actually planned on selling to people 35 and up, but lo and behold it's the "older" set that's buying. You can't argue with the money! :-)

              Sid Hale - I'm not going to create a membership site. I'm using DPD. They make it easy to offer a one time product or a subscription.
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              • Profile picture of the author Sid Hale
                Originally Posted by Imamarketer2 View Post

                I'm not going to create a membership site. I'm using DPD. They make it easy to offer a one time product or a subscription.
                ...but what happens when someone who opts for the subscription plan cancels the 2nd and subsequent payments?

                A membership will allow you to drip-feed the course content so that a subscriber doesn't immediately download the entire course and then cancel subsequent payments.
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      • Profile picture of the author Nick Sammut
        This is some wise advice. It has and will work time and time again.

        Originally Posted by Sid Hale View Post

        In fact... the easiest answer is to actually offer (rather than test) both a one off payment and a subscription.

        In either case, you can drip-feed the content via a membership site, and the frequency of content release could be exactly the same for either option.

        Your subscription should be a fixed-term subscription (i.e. an installment purchase) with the number of payments keyed to the number of months of drip-fed material.

        By providing the course material within a drip-fed membership, customers opting for the installment purchase can be blocked from the site if they cancel the subscription. Anyone completing all payments (installment or one off payment) can be granted "lifetime" access.

        For the convenience of making installment payments, the customer should be willing to pay a premium (i.e. total installments = 10 -15% more than one off purchase price) so you might offer a one-off price of $500 or 4 installments of $150 (for total of $600).
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  • Profile picture of the author miltonmahmud
    I suggest you offer them first fundamental course free and then with some promotional offer . you can contact with developer , he will do what you want .
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  • Profile picture of the author Sid Hale
    Actually, if you drip-feed for both, and give life-time access to both (as long as all installments are made), you only have to create ONE membership site, and the only thing that changes is the frequency of payment.
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  • Profile picture of the author helenl
    I don't have much to add to the great advice above, except to say that while some people 55+ are cautious with money, there are plenty who have got money to spend now their mortgages are paid off (or at least much smaller than years before) and their kids have left home.
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    • Profile picture of the author Imamarketer2
      Sid Hale - Yes, I can drip content with DPD so they don't get all of it up front. And for those who want to pay the full amount up front, I can deliver a zip file to them automatically.
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      • Profile picture of the author JohnMcCabe
        Originally Posted by Steve B View Post

        There will be some people (maybe most?) that will be turned off by recurring payments for a $500 product.

        If your prospects are 55+, many will be retired, some on a fixed income. Older people often don't want to mess with technology like having to download things, understanding how to access memberships, keeping track of user names and passwords, etc.

        IMO, your product is quite high-end for most seniors . . . you'd better be sure you have chosen a money niche where seniors are not adverse to making large purchases.

        Steve
        Originally Posted by loedown View Post

        I agree, $500 is a lot for that age group.

        But I do like your idea of splitting it up over a couple of payments to make it feel like class.

        Any reason you're charging so dang much for it?
        In spite of the impression you might get from the media, not everyone over 50 is a starving retiree struggling on Social Security. This generation has a large portion to the wealth in the USA, and an even larger percentage of disposable income.

        And for a significant portion of this generation, "retirement" doesn't mean polishing off the Early Bird Special in time to watch the Wheel...

        Last, being over 50 does not make one a technophobe unable to handle the intricacies of the "right click to download" button. That may be a sitcom staple, but it's hardly reality.
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  • Profile picture of the author mikeyman120
    Some great advice above. Also remember asking people you have no relationship with for $500 is asking a lot. Not to say it can't be done or isn't all the time but it is kind off asking for a lot of money upfront. Maybe have an initial product at a lower price and then upsell them on the rest of the course or on a membership to a class. I also find I personally like memberships that you pay for monthly but you get new content or classes each week. If I digest all the info in one sitting and have to wait a whole month for more it seems too long so I like weekly and will follow this myself when I do my first membership site eventually.

    Also I wouldn't give them all the content up front and then expect them to keep paying. Your conversion rate will no doubt go down doing it like that. They pay for one new month and they get one new months worth of material drip fed weekly or monthly.
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  • Profile picture of the author Imamarketer2
    John McCabe - Absolutely right on! While there are many seniors who are struggling, there are plenty who aren't.

    MikeyMan120 - I was debating whether to drip by the week or the month. I'm going to take your advice because I was thinking the same thing. A month for new material is too long to wait, and it's easy for people to become disinterested if they have to wait for too long. I'll be charging monthly on the installment plan, and dripping by the week.
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